OCSL vs. HTGC
OCSL (Oaktree Specialty Lending Corporation) and HTGC (Hercules Capital, Inc.) are both stocks. Both are in the Financial Services sector — OCSL in Credit Services, HTGC in Asset Management. Over the past 10 years, OCSL returned 7.88%/yr vs 13.51%/yr for HTGC. At a 0.50 correlation, their price movements are largely independent.
Performance
OCSL vs. HTGC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OCSL achieves a -4.33% return, which is significantly higher than HTGC's -14.31% return. Over the past 10 years, OCSL has underperformed HTGC with an annualized return of 7.88%, while HTGC has yielded a comparatively higher 13.51% annualized return.
OCSL
- 1D
- -1.47%
- 1M
- -0.18%
- YTD
- -4.33%
- 6M
- -4.70%
- 1Y
- -5.66%
- 3Y*
- -4.04%
- 5Y*
- 0.33%
- 10Y*
- 7.88%
HTGC
- 1D
- -1.68%
- 1M
- -0.72%
- YTD
- -14.31%
- 6M
- -12.31%
- 1Y
- -5.78%
- 3Y*
- 14.02%
- 5Y*
- 8.78%
- 10Y*
- 13.51%
OCSL vs. HTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OCSL Oaktree Specialty Lending Corporation | -4.33% | -6.06% | -15.15% | 11.25% | 3.74% | 44.99% | 11.00% | 38.74% | -6.31% | -1.09% |
HTGC Hercules Capital, Inc. | -14.31% | 3.54% | 33.33% | 42.91% | -10.42% | 26.50% | 14.49% | 39.86% | -6.86% | 1.86% |
Correlation
The correlation between OCSL and HTGC is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2008 | 0.50 |
The correlation between OCSL and HTGC shifts across timeframes, from 0.50 (all time) to 0.64 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
OCSL:
$1.01B
HTGC:
$3.00B
OCSL:
$1.17
HTGC:
$1.49
OCSL:
9.78
HTGC:
10.22
OCSL:
0.80
HTGC:
0.31
OCSL:
3.43
HTGC:
5.12
OCSL:
0.73
HTGC:
1.35
OCSL:
$293.40M
HTGC:
$578.18M
OCSL:
$174.66M
HTGC:
$510.74M
OCSL:
$121.85M
HTGC:
$380.44M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OCSL vs. HTGC — Risk / Return Rank
OCSL
HTGC
OCSL vs. HTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Oaktree Specialty Lending Corporation (OCSL) and Hercules Capital, Inc. (HTGC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OCSL | HTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.98 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | -0.23 | -0.05 |
| Martin ratioReturn relative to average drawdown | -0.62 | -0.52 | -0.10 |
Loading charts...
Drawdowns
OCSL vs. HTGC - Drawdown Comparison
The maximum OCSL drawdown since its inception was -59.52%, smaller than the maximum HTGC drawdown of -68.21%. Use the drawdown chart below to compare losses from any high point for OCSL and HTGC.
Loading charts...
Drawdown Indicators
| OCSL | HTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.52% | -68.21% | +8.69% |
Max Drawdown (1Y)Largest decline over 1 year | -19.77% | -24.74% | +4.97% |
Max Drawdown (3Y)Largest decline over 3 years | -34.16% | -27.97% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -34.16% | -36.11% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -57.32% | -57.54% | +0.22% |
Current DrawdownCurrent decline from peak | -27.70% | -18.98% | -8.72% |
Average DrawdownAverage peak-to-trough decline | -16.69% | -10.87% | -5.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.15% | 11.15% | -2.00% |
Volatility
OCSL vs. HTGC - Volatility Comparison
Oaktree Specialty Lending Corporation (OCSL) has a higher volatility of 6.58% compared to Hercules Capital, Inc. (HTGC) at 5.98%. This indicates that OCSL's price experiences larger fluctuations and is considered to be riskier than HTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OCSL | HTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.58% | 5.98% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 17.82% | 20.17% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.84% | 23.43% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.96% | 25.77% | -5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.89% | 27.87% | -0.98% |
Dividends
OCSL vs. HTGC - Dividend Comparison
OCSL's dividend yield for the trailing twelve months is around 13.49%, more than HTGC's 11.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HTGC Hercules Capital, Inc. | 11.88% | 9.99% | 9.56% | 11.40% | 13.77% | 9.76% | 9.02% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% |
OCSL Oaktree Specialty Lending Corporation | 13.49% | 13.27% | 14.40% | 11.12% | 11.86% | 7.37% | 7.27% | 6.96% | 8.75% | 8.38% | 13.41% | 10.84% |
Financials
OCSL vs. HTGC - Financials Comparison
This section allows you to compare key financial metrics between Oaktree Specialty Lending Corporation and Hercules Capital, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
OCSL vs. HTGC - Profitability Comparison
OCSL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported a gross profit of 0.00 and revenue of 65.25M. Therefore, the gross margin over that period was 0.0%.
HTGC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a gross profit of 106.20M and revenue of 123.49M. Therefore, the gross margin over that period was 86.0%.
OCSL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported an operating income of 0.00 and revenue of 65.25M, resulting in an operating margin of 0.0%.
HTGC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported an operating income of 65.43M and revenue of 123.49M, resulting in an operating margin of 53.0%.
OCSL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported a net income of 34.37M and revenue of 65.25M, resulting in a net margin of 52.7%.
HTGC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hercules Capital, Inc. reported a net income of 0.00 and revenue of 123.49M, resulting in a net margin of 0.0%.
Frequently Asked Questions
OCSL and HTGC have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OCSL has higher volatility (6.58%) compared to HTGC (5.98%). In terms of maximum drawdown, OCSL dropped -59.52% vs HTGC's -68.21%.
HTGC currently has the higher Sharpe Ratio (-0.25 vs -0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for OCSL and HTGC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer